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- Hong Kong's flat sale, purchase pacts soar in November
Date: 5-Dec-2007 Sources: (People's Daily)
Investors' expectations of further fund inflows and interest cuts saw a strong growth of housing market in Hong Kong last month, reveal the Land Registry's latest statistics on Tuesday.
According to the Land Registry's latest figures, 15,759 residential flat sale and purchase pacts were registered in Hong Kong in November, up 121.8 percent year on year.
The total consideration also surged 260.3 percent to 70.1 billion HK dollars (about 9 billion U.S. dollars) in the city populated by about 7 million people, the Land Registry said.
According to the latest land registration statistics, the total number of building unit sale and purchase agreements registered last month was 18,105, up 36.9 percent from October and 112 percent from a year earlier.
Using a 12-month moving average, the figure represents a rise of 7.4 percent from October and 44.5 percent on a year earlier.
The total consideration of these agreements surged 60.6 percent from October and 213.8 percent on last year to 81.4 billion HK dollars (10.44 billion U.S. dollars).
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